On September 20, 2016, FDIC Chairman Martin Gruenberg issued a statement on the release of updated data regarding the FDIC's Deposit Insurance Fund. (DIF) The DIF balance stood at almost $78 billion, leading to a reserve ratio of 1.17%, an eight-year high. Chairman Gruenberg's statement noted that the FDIC still intends to reach the statutory minimum ratio of 1.35% set forth in the Dodd-Frank Wall Street Reform and Consumer Protection Act, before September 30, 2020.
The text of Chairman Gruenberg's statement is available at: https://www.fdic.gov/news/news/speeches/spsep2016a.html.
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